Bryce Point Capital LLC Makes New $558,000 Investment in Waste Connections, Inc. (NYSE:WCN)

Bryce Point Capital LLC purchased a new stake in Waste Connections, Inc. (NYSE:WCN) during the 4th quarter, Holdings Channel reports. The firm purchased 3,253 shares of the business services provider’s stock, valued at approximately $558,000.

A number of other hedge funds have also modified their holdings of the business. Groupama Asset Managment lifted its stake in Waste Connections by 51.9% in the 4th quarter. Groupama Asset Managment now owns 30,936 shares of the business services provider’s stock valued at $5,295,000 after buying an additional 10,566 shares in the last quarter. Headlands Technologies LLC raised its holdings in shares of Waste Connections by 94.2% in the fourth quarter. Headlands Technologies LLC now owns 31,289 shares of the business services provider’s stock worth $5,369,000 after acquiring an additional 15,179 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Waste Connections by 239.9% in the fourth quarter. Geode Capital Management LLC now owns 647,727 shares of the business services provider’s stock valued at $115,558,000 after acquiring an additional 457,137 shares in the last quarter. HighPoint Advisor Group LLC boosted its stake in shares of Waste Connections by 22.3% during the fourth quarter. HighPoint Advisor Group LLC now owns 2,703 shares of the business services provider’s stock valued at $513,000 after acquiring an additional 492 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Waste Connections by 8.5% during the 4th quarter. Wellington Management Group LLP now owns 3,983,165 shares of the business services provider’s stock worth $683,430,000 after purchasing an additional 310,449 shares in the last quarter. 86.09% of the stock is owned by hedge funds and other institutional investors.

Waste Connections Stock Up 0.1 %

Shares of NYSE:WCN opened at $196.75 on Thursday. The stock has a 50-day simple moving average of $188.19 and a 200-day simple moving average of $183.13. The stock has a market capitalization of $50.83 billion, a P/E ratio of 82.32, a PEG ratio of 3.07 and a beta of 0.81. Waste Connections, Inc. has a 1 year low of $160.34 and a 1 year high of $197.74. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.65 and a current ratio of 0.65.

Waste Connections (NYSE:WCN) last released its quarterly earnings data on Wednesday, February 12th. The business services provider reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.04). Waste Connections had a return on equity of 15.54% and a net margin of 6.92%. Equities analysts forecast that Waste Connections, Inc. will post 5.28 earnings per share for the current year.

Waste Connections Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were given a $0.315 dividend. This represents a $1.26 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend was Thursday, February 27th. Waste Connections’s dividend payout ratio (DPR) is presently 52.72%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on WCN shares. Truist Financial reaffirmed a “buy” rating and set a $210.00 price target (up from $200.00) on shares of Waste Connections in a research note on Friday, February 14th. Morgan Stanley raised their target price on shares of Waste Connections from $214.00 to $219.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. CIBC cut their price target on Waste Connections from $215.00 to $212.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Citigroup raised their price objective on Waste Connections from $199.00 to $218.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Stifel Nicolaus upped their target price on Waste Connections from $205.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $204.00.

About Waste Connections

Waste Connections, Inc provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (E&P) customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals.